Apartment marketers can no longer ignore the rise of video marketing. Many experienced it firsthand when a global pandemic in 2020 accelerated the need to highlight their units and amenities virtually.
Though this trend has been building for years now, the fact is that online video tours have now become the expectation—not the exception. Real estate listings that include video generate 4x more inquiries than those that don't, and by 2022, online video content will make up more than 80% of all consumer internet traffic.
Video has an unparalleled ability to get and keep a prospective resident's attention, which is huge because that level of engagement increases the likelihood of them actually signing a lease. But simply having video available on your community's website does not guarantee leasing success.
The four most commonly used types of apartment videos are community overview videos, city/neighborhood overview videos, 360 virtual tours, and walkthrough video tours. To know which of these works best for you starts with knowing how each type of video affects prospects at different times during the leasing cycle. Our goal in this blog is to help you choose the right style of video content for your apartments.
The Apartment Leasing Cycle and Video Tours
The apartment leasing cycle primarily occurs in three steps, or Buying Stages—awareness, research, and selection.
Awareness: Apartment shoppers not only become aware that they need an apartment, but also begin to become aware of the various apartment communities available to them.
Research: Apartment shoppers begin to compare relevant factors such as location, price, space, convenience, security, aesthetics, and more, to help narrow down their choices. When they're down to a few good options, they'll begin to schedule on-site showings.
Selection: Equipped with all the information gathered from their tours, apartment shoppers again narrow down their choices until they're able to select a single apartment.
If you want your apartment video tours to be lease-generators, they also need to be mindful of these three Buying Stages. Yes, gaining attention about your apartments is helpful, but would spending a lot of time and money working toward producing a video in the hopes that it goes viral also help your prospects narrow down their choice to you? The answer is probably no.
Your goal should be to have video tours that are helpful for every Buying Stage. We've built a table for you to compare the strengths and weaknesses of each apartment video tour type during each Buying Stage.
Comparing Types Of Apartment Videos
At Each Buying Stage
|
Video Tour |
Buying Stage
|
||
|
Awareness
|
Research
|
Selection
|
|
|
City/ |
NO |
YES If your community does make the cut of the first round, city/neighborhood info can be valuable to prospects as they narrow down options. |
NO After someone has visited your community (and, therefore, your city and neighborhood), this video has served its purpose. |
|
360 Virtual |
YES Can help make the cut by giving prospects a peek into what your apartments look like. |
YES Somewhat helpful in providing the look/feel of your apartments, although lacks the full force of an actual video. |
NO After the showing, not specific enough to be helpful. Generic views do not help people make a final decision. |
| Community Overview Videos |
YES A 2-3 minute, high-quality overview video can make a great impression to prospects as they browse through hundreds of communities. |
YES If the video is content-rich and showcases the breadth of your community's highlights, prospects might watch this video again as they narrow down choices. |
YES Community videos do not help prospects when it comes time to select a specific apartment. |
| Walkthrough Video Tours |
YES 2-4 minute walkthrough videos give a great feel for your individual floorplans, as well as your community overall. |
YES Very helpful to research options before scheduling a showing. Also, if prospects watch 3-5 of your floorplan-specific videos, they spend less time researching competitors. |
YES This is where walkthrough videos have the potential to shine because they continue to show your floorplans beyond the showing. Roommates/families watch again and again and build trust. |
Conclusion
It’s clear to see that walkthrough video tours are the best choice of apartment videos because they impact prospective residents, as well as extend and enhance the capabilities of your leasing staff, during every Buying Stage.
To find out more about why walkthrough video tours outperform other types of apartment videos, download our free Ebook The Essential Guide to Apartment Video Tours by completing the form below.